WASHINGTON -- The Department of Veterans Affairs said it made the first public offering of real estate investment conduits (Remics) on Juen 15.

The department's certificates, dubbed Vinnie Macs, are the first such multiclass mortgage securities ever issued with a full-faith government guarantee of timely payment of principal and interest.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.